Remittance inflow from Malaysia to grow: BMCCI
‘Showcase Bangladesh’ in Kuala Lumpur from July 13
Dhaka, May 20 (UNB) – The remittance inflow from Malaysia that recently crossed a US$ 1 billion-mark can jump to US$ 1.5 billion if the existing 5 lakh Bangladeshi workers keep on sending money through formal channel, said a leading chamber on Sunday.
“The workers mostly don’t have any idea about the benefits of sending remittance through formal banking channel. We want to encourage them and let them know about the benefits,” Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) president Syed Nurul Islam told a press conference at the National Press Club.
He said it would not be impossible to bring in US$ 2 billion remittance in the future as more skilled manpower would go to Malaysia in the next two years. “For this, we need joint efforts of public and private sectors, including financial institutions.”
The press conference was arranged to brief the media about the second ‘Showcase Bangladesh 2012’ to be held in Dataran Merdeka Square, Kuala Lumpur from July 13 to July 15.
BMCCI in collaboration with Bangladesh High Commission in Malaysia, Malaysia South-South Association, Malaysia External Trade Development Corporation will arrange the three-day trade show.
Former BMCCI president and chairman of the fair organising committee Syed Moazzam Hossain described the objectives of the event at the press conference.
BMCCI secretary general architect M Alamgir Jalil, Deputy Managing Director of Islami Bank Limited, lead sponsor of the event, and representatives from gold sponsor Eastern Bank Limited and silver sponsor Pubali Bank Limited also spoke at the press conference.
Moazzam Hossain said the objectives of the showcase are to promote and project Bangladesh for the total branding of image, heritage and culture in Malaysia, and promote bilateral trade between the two countries through export diversification.
“We’ll be able to draw a lot of attention from Malaysian side with the event. It’ll help facilitate the acceleration of trade and economic ties between the two countries, and will serve as an effective groundwork for strengthening bilateral relations,” he said.
He suggested the exporters to avail of the duty-free access of 300 Bangladeshi products in Malaysian market to give a boost to export earning.
“We should also explore business opportunities in relatively close countries – Thailand, Singapore, Japan, India and Malaysia instead of the EU and the USA centric concentration.”
The chamber also said Bangladesh would attract significant investment in tourism and hospitality sector through the fair.
The organisers said either Malaysian Deputy Prime Minister Tan Sri Dato Hj. Muhuddin Hj M Yassin or the Minister for International Trade and Industry will attend the inaugural session as the chief guest.
Commerce Minister GM Quader, Civil Aviation and Tourism Minister Faruk Khan, Industries Minister Dilip Barua and Environment and Forests Minister Dr Hasan Mahmud are also expected to attend the function.
There seminars, titled ‘Investment opportunities in Tourism and Hospitality Sector in Bangladesh’, ‘Role of Bangladeshi Workers in the Economic Development of both Malaysia and Bangladesh’ and ‘Malaysia and Bangladesh: Sharing the Experience on SME Industries’ will also be held on the occasion.
Besides, a cultural show will be arranged to highlight the cultural heritage of Bangladesh. Some 25,000 expatriates Bangladeshis are expected to enjoy the event.
“The workers mostly don’t have any idea about the benefits of sending remittance through formal banking channel. We want to encourage them and let them know about the benefits,” Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) president Syed Nurul Islam told a press conference at the National Press Club.
He said it would not be impossible to bring in US$ 2 billion remittance in the future as more skilled manpower would go to Malaysia in the next two years. “For this, we need joint efforts of public and private sectors, including financial institutions.”
The press conference was arranged to brief the media about the second ‘Showcase Bangladesh 2012’ to be held in Dataran Merdeka Square, Kuala Lumpur from July 13 to July 15.
BMCCI in collaboration with Bangladesh High Commission in Malaysia, Malaysia South-South Association, Malaysia External Trade Development Corporation will arrange the three-day trade show.
Former BMCCI president and chairman of the fair organising committee Syed Moazzam Hossain described the objectives of the event at the press conference.
BMCCI secretary general architect M Alamgir Jalil, Deputy Managing Director of Islami Bank Limited, lead sponsor of the event, and representatives from gold sponsor Eastern Bank Limited and silver sponsor Pubali Bank Limited also spoke at the press conference.
Moazzam Hossain said the objectives of the showcase are to promote and project Bangladesh for the total branding of image, heritage and culture in Malaysia, and promote bilateral trade between the two countries through export diversification.
“We’ll be able to draw a lot of attention from Malaysian side with the event. It’ll help facilitate the acceleration of trade and economic ties between the two countries, and will serve as an effective groundwork for strengthening bilateral relations,” he said.
He suggested the exporters to avail of the duty-free access of 300 Bangladeshi products in Malaysian market to give a boost to export earning.
“We should also explore business opportunities in relatively close countries – Thailand, Singapore, Japan, India and Malaysia instead of the EU and the USA centric concentration.”
The chamber also said Bangladesh would attract significant investment in tourism and hospitality sector through the fair.
The organisers said either Malaysian Deputy Prime Minister Tan Sri Dato Hj. Muhuddin Hj M Yassin or the Minister for International Trade and Industry will attend the inaugural session as the chief guest.
Commerce Minister GM Quader, Civil Aviation and Tourism Minister Faruk Khan, Industries Minister Dilip Barua and Environment and Forests Minister Dr Hasan Mahmud are also expected to attend the function.
There seminars, titled ‘Investment opportunities in Tourism and Hospitality Sector in Bangladesh’, ‘Role of Bangladeshi Workers in the Economic Development of both Malaysia and Bangladesh’ and ‘Malaysia and Bangladesh: Sharing the Experience on SME Industries’ will also be held on the occasion.
Besides, a cultural show will be arranged to highlight the cultural heritage of Bangladesh. Some 25,000 expatriates Bangladeshis are expected to enjoy the event.
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